JPY crosses/Trade Ideas

EUR/JPY: Fails to maintain gains and now sliding lower

I’ve taken a small short position in this pair this morning as I feel there is plenty of scope for an already ultra-long market to be disappointed. Problems in the EZ are only ever just simmering below the surface and the market is always worried about being long of the single currency. On the Yen front, more Yen-negative comments from the new PM Abe don’t seem to be having the desired effect so perhaps the market is getting close to saturation point?

I’m not calling an end to the trend here, but I do think a 300/400 pip pull-back is feasible?

  1. Hi Sean

    don’t like fighting the trend but was tempted to take a small short at 115.36 with tight stop 25 pips above for potential good r/r, at 50 pips in favour stop moved to b/e, will sleep (in europe) with limit in at 100 sma on H1 and see how she pans out. Aso’s comments about no need to have things in writing with Boj may tempt in some nervous profit takers.

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